A few years back it seemed that everyone was grouped under the same umbrella term of real estate agent. Nowadays there are so many individual job titles and types of agents that it can become a little confusing as to who does what and which type of agent you need for what. The term buyer’s agent is exactly what it sounds in that they are agents who work exclusively for a buyer. Therefore, if you are looking to purchase a property yourself then you need a different type of agent, be that a seller’s agent, listing agent etc. So having established what their purpose is, what exactly is it that they do? Take a few moments to fully understand their role so you do not waste your time approaching the wrong people and getting bogged down in a maze of job titles.
Finding the Buyer a Home
Most people simply do not have the time involved to properly look through the market and find the properties they desire. Given the figures involved in the housing market, however, purchasing a property is not something which can be rushed. On the other side of the coin if you take too long finding a house to purchase by the time you have compared it with alternatives the one you have chosen to go back in for may have been snapped up by someone else. This is where a buyer’s agent steps in. They have the resources to filter through the options quickly and efficiently to fit your requirements and put you in a position to make a purchase before it gets sold.
Ensuring the Price is Suitable
A buyer’s agent will work on your behalf to inspect the property and make sure there are no hidden issues or it is in need of repairs which could have a major impact on further costs. A property seller will clearly be attempting to get themselves the best deal and will likely have an agent working on their behalf. By having your own agent you are evening the playing field and making sure that you are not getting fleeced out of more cash than the house price truly warrants.
Negotiating on your behalf
All types of real estate professionals have spent years honing their trade and if you use a renowned buyer agent with plenty of experience in the field, they will be wise to all the tricks of the trade. They will be able to enter any negotiation in a strong position and will look to explore every available option for you the buyer. They will go over all the documentation involved in the transactions at every stage and ensure that all is as it should be and protect your purchase.
Is there any Reason Not to use a Buyer’s Agent?
The only circumstances in which this would be advisable would be if you have had lots of previous experience purchasing properties before. The advantage that would be gained from this is that you would not have to pay the commission for a buyer’s agent’s services. However given the fact that you are likely to not be in such a strong bargaining position that difference might prove to be negligible if at all.